RBI Broadens UPI Scope to Include Credit Lines as Funding Source

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RBI Broadens UPI Scope to Include Credit Lines as Funding Source:


The Reserve Bank of India has broadened the UPI’s reach by incorporating credit lines as an eligible funding source.

This enhancement allows for transactions via the UPI system using pre-approved credit lines issued by scheduled commercial banks to individual customers, provided the customer has given prior consent, according to a statement released by the Reserve Bank of Indi on Monday.

rbi broadens upi scope to include credit lines as funding source
RBI Broadens UPI Scope to Include Credit Lines as Funding Source

Banks have the flexibility, in line with their board-approved policies, to define the terms and conditions governing the utilization of these credit lines.

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